Mortgages
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Less-than-perfect credit? No problem. We’ll help you explore mortgage solutions that match your unique situation.
Less-than-perfect credit? No problem. We’ll help you explore mortgage solutions that match your unique situation.
Don’t let credit challenges stop you from homeownership or accessing your home equity. We specialize in mortgages for all credit situations and can help find options that work for you.
Improve your approval chances with these key tips, even if your credit history isn’t perfect
Saving for a larger down payment (20% or more) shows financial responsibility and reduces lender risk, improving approval chances
Consider B-lenders, private mortgage lenders, or credit unions, which may offer more flexibility for borrowers with bad credit
Adding a creditworthy co-signer with a strong credit history can boost your approval odds by including their income and credit score
When Jim and Becky inherited their family home, they faced $55,000 in debt spread across credit cards, personal loans, and store accounts. The couple, a plumber and software sales professional, was spending $1,200 monthly just to maintain minimum payments.
After reviewing their credit reports and calculating their total debt burden, they discovered their home equity could offer a path forward. They secured a home equity loan, allowing them to consolidate all their high-interest debts into one manageable monthly payment.
The couple maintained strict payment discipline with their new loan while keeping their old credit cards open but unused. They set up payment alerts and monitored their credit scores monthly to stay on track.
Within 18 months, Jim and Becky improved their credit scores, reduced their monthly payments and built an emergency fund. Their story shows how combining home equity with smart credit management can transform a challenging financial situation into a success story.
* The information presented is for illustrative and educational purposes only.
Facing credit challenges? You can take control of your financial future with these proven steps to repair your credit.
Get free copies of your credit reports and look for errors or outdated information. File disputes for any inaccuracies, and make sure paid collections are properly marked as resolved. Credit repair is a journey, not a race. Small, consistent steps will build a stronger financial foundation over time.
We specialize in personalized lending solutions for every unique credit situation. Whether you’re self-employed, new to Canada, building your credit, or seeking investment opportunities, we’ll help make homeownership possible.
My credit score had me losing hope, but the mortgage team at Fortune Funding saw my potential when other lenders turned me away. She guided me through every step of the mortgage process, and now I’m a proud homeowner! I couldn’t have done it without her expertise and support.
Tom B.
Newmarket ON, Canada
Yes, it is possible to obtain a mortgage with a credit score below 600, but your options may be limited. Alternative lenders, such as B lenders or private lenders, may be more willing to work with you. However, you may face higher interest rates and stricter terms.
To improve your chances of mortgage approval with bad credit, consider making a larger down payment, working with a co-signer who has good credit, and shopping around for lenders who specialize in bad credit mortgages. Additionally, improving your credit score before applying can also help.
Yes, borrowers with bad credit typically face higher interest rates compared to those with good credit. Lenders view low credit scores as a higher risk, so they compensate by charging more in interest. However, making a larger down payment or having a co-signer can help mitigate this.
The approval process for a mortgage with bad credit can vary depending on the lender and your specific situation. Generally, it may take longer than the standard approval process due to additional scrutiny of your financial history. It’s advisable to be prepared for potential delays and gather all necessary documentation in advance.
After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
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After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
